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to you saying, look, congress might not blow up the economy for no good reason. or if i do have to say it, i shouldn't sound excited about it. that should be a given. but in recent years, it has not been a given. and the reason it hasn't been is in some ways traceable to this guy. you know that guy. that is grover norquist. if you go by his name or his picture, he may not seem imposing. but in the republican party, he's a guy that breaks your knees if you vote for higher taxes. all republicans pretty much sign it and they are very, very, very loathed to break it. and that's made it impossible to reach a deficit reduction deal, until now. "the new york times" has an article in which republican after republican after republican goes on the record by name dismissing his pledge and his power. peter king says a pledge is good at the time you sign it. in 1941 i would have voted to declare war on japan. but each congress is a new congress and you can't have a rule that you're never going to raise or lower taxes. i don't want to rule anything out. senator of georgia said, i'm frankly not concerne
return to a normal economy that returns about 18.5%, that would increase revenue an additional over $400 billion per year, that's $750 billion of revenue per year through economic growth. and the president, his proposal would raise 1/10 of that but would put at risk the economic growth and that $750 billion. so -- >> sir, with all due respect, though -- >> counterproductive. >> that's an answer to the question. there's nothing you see over the next 35 days that would have you break that pledge with grover norquist? >> no, because raising taxes harms the economic growth. you get ten times the revenue by economic growth rather than punishing success. and, again, all of us are saying president obama, show us your plan for restraining the size of government, that's the main problem. again, his revenue proposal would raise $68 billion when we have over $1 trillion worth of deficit. where's the other $1 trillion in his balance plan? mr. president, show us your plan. >> sir, one thing, mitch mcconnell has said that revenue is on the table as long as entitlements would be on the table. conductin
's entire economy. we can't afford it and we can't afford to leave it intact. so try as they might, remember the last congress republicans passed a lot of bills out of the house of representatives that tore apart obama care. as even the president calls it now. they didn't go anywhere in the senate and meanwhile, alex, after the thanksgiving break, the principles are expected to get back together to begin negotiating in earnest. as you're right the clock is ticking. just a little bit more than one month to go before the nation heads over that fiscal cliff. al alex? >> 38 days and counting. thanks so much. let's go from the white house to the middle east now. palestinians and israelis are keeping a cease-fire alive. but many call the truce extremely fragile. an attempted border breach threatened the calm yesterday. israeli forces shot and killed a palestinian man. he was one of hundreds testing israeli security at the border. nbc's martin fletcher is live for us in tel aviv. good saturday morning to you, martin. can this shooting jeopardize the cease-fire? and then when does the next phase beg
families should go up. it would be bad for the economy. it would be bad for those families. in fact, it would be bad for the world economy. and so i think it's very important that we get that resolved. and i am very open to a fair and balanced approach. >> the president met with middle class tax payers today, urging them to employ twitter hash tag my y2k, telling congress this is too important for them to screw it up. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. it's too important for washington to screw this up. >> and a new survey shows the president has the public on board in a new washington post poll, 60% support raising taxes on incomes over $250,000. a healthy majority. indeed, even some republicans appear to be under sway, by the force of reason. >> in my view, we all agree we're not going to raise taxes on people that make less than $250,000. we should just take them out of this discussion right now. continue to fight against any rate increases. try to continue to work h
about how enacting comprehensive immigration reform can help on the jobs and economy issue. simply put, immigration reform would create a fair, humane and effective system that levels the playing field for all workers. right now our immigration system doesn't work for anyone but unscrupulous employers. we need to take the power out of the hands of those who are exploiting our current immigration situation and put it back in the hands of workers and fair and honest employers. if all workers have a legal status, employers can't skirt labor laws said they have to pay fair wages and abide the rules. immigration reform is the right thing to do as well as the economically smart thing to do. children should not have to live in fear of their parents deportation every day of their lives and some of the hardest working and most honorable people in our society should not have to be subject to exploitation and harassment. finally, i would just like to say that i'm truly appreciative of the support we have received from the urban league and other african-american leaders on this issue. i know that
obama term in office? the economy, the fiscal cliff talks, the president's priorities in the next four years. our roundtable is here. david brooks of "the new york times." msnbc's reverend al sharpton. former ceo of hewlett-packard carly fiorina >> historian and film maker ken burns. and nbc chief foreign affairs correspondent andrea mitchell. and we'll hear from new york congressman, gregory meeks, as we check in on some of the hardest-hit victims of hurricane sandy and see how they offered thanks this weekend while surrounded by destruction. >>> from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >>> president obama doing his part for the economy over the weekend out holiday shopping as part of small business saturday, picking up several children's book at an independent bookstore in arlington. >>> meanwhile, uncertainty in the middle east. more clashes in egypt over the weekend as police use tear gas this morning to disburse protesters in cairo. i want to start there. we have "new york times" columnist david broo
to then quickly craft a legislative deal that can stop the damage to the economy that would occur if we went off the cliff and stayed off the cliff. john boehner recognizes that the fiscal cliff is the president's leverage, but boehner believes he has leverage, too. politico reported this morning president barack obama made a demand of how john boehner near the end of their first white house meeting on the fiscal cliff, raised the debt limit before year's end. boehner responded, quote, there is a price for everything. boehner told president obama at the white house that the debt limit increase is quote my leverage. although he added that he's flexible on when it should be done. senator durbin said today that raising the debt ceiling must be part of any deal with republicans. >> i also think that the president isn't going to sign off on any agreement that doesn't include some certainty as to budgets, appropriations, dealing with our debt ceiling. we're not going to find ourselves with some big party celebrating in february and then turn around and march and have another doomsday scenario with the
, it could have serious consequences on the economy. >> i want to ask you both to weigh in on this question. kristen, you do the political angle and neil you give me the nuts and bolts. yesterday john boehner wrote an op-ed calling for the health care law to be part of the negotiations, he wrote in part the president's health care law at the massive, expensive, unworkable program when the national debt exceeds the size of our country's entire economy. we can't afford it, and can't afford to leave it intact. is john boehner right? >> no. look, it's a law that does a lot of things with the health care system. it's not predominantly a fiscal issue, in that that when the government does anything, it affects taxes. if you're the president you have no incentive to allow the health care law to be on the table in these negotiations. maybe on the edges there are a few spending programs you're willing to negotiate over. but in terms of the health insurance mandate and exchanges, all the things in this complicated law that passed two years ago, you're really going to draw the line and say, we're not g
the entire economy because we're not confident that our guys can govern anymore. people like me just aren't hiring because we're not confident they can do it. >> well, the white house echoed that concern this morning. a new report says failing to act on the president's plan for middle class americans would freeze the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government spending could impact public safety. >> i think you should be worried if you have a defense job and we all ought to be worried whether we are dependent upon other
is getting his economy back on track and to do that he needs the help of the international community and the united states. so he's got to carefully try to balance these two issues. i think he recognizes that a conflict along, you know, egypt's border with israel is not in egypt's interest any more than it's in israel's interests. so -- but these are people who have long been in opposition and they're having to learn to balance these political calculations as they go forward. >> right. and there's no rest after election day when you're the active president. p.j. will stay with us as we turn to another discussion right on point with president obama's foreign policy team. many republicans are attacking ambassador susan rice, a top candidate to replace secretary of state clinton. the senate has spiked some key nominations from president obama before, from elizabeth warren to nobel peace prize winner peter diamond. there is one number that suggests obama is likely to win this battle. we will look at the math after the break on "now." so you say men are superior drivers? yeah. then how'd
represented their interests. >> we also have a terrible economy. a weak economy is the only reason they're in the game. i'm going to end this conversation because i don't think it's been resolved, erin, and i -- erin, you made a good case for younger people. that's the future of every party. go younger. i agree with that. the problem is they have to decide ideologically can they compete for senate seats in pennsylvania, maybe not massachusetts, but new jersey, connecticut, new england? are they going to give you up a portion of the country and say, we're going to make our votes in the south? it seems to me that's a problem they've got right there. they've given up both coasts, by the way. that's my argument, not yours. robert, thank you for coming in tonight. happy thanksgiving. you should be in cars heading home. erin, you've been doing great this year. great coverage. >>> coming up, republicans aren't the only ones fighting among themselves. some progressives are warning president obama, they don't like this debt reduction deal, they'll let people hear. so it begins. also the republic
1st or 11:59 the day before january 1st. it's already starting to impact the economy. whether it impacts consumers -- and we'll find out today, by the way, in terms of thanksgiving and what's that meant, whether consumers are coming out or not -- but thoorz the bigger issue that manufacturing has already started to slow down. people are starting to worry. it may end up in the economic numbers already, just the fact that we're having this debate. and then come january 1st, do we go over? what does that mean? is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal and what does that deal look like? >> a lot of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i think the fever is starting to break. >> absolutely. you're going to see it, i think, on
interest deduction may be on the chopping block if the economy falls off the fiscal cliff. what does it mean for you and your nation's nascent housing recovery? rodney anderson is the director of supreme lending. welcome, sir. >> good afternoon, lori, rodney, the mortgage interest deduction, on? mous with terms like sacred cow and untouchable but that is changing. >> absolutely. we know several years ago they would have to address the mortgage interest deduction. what we need to remember here is the housing market is already in a troubled stage. ben bernanke last week saying mortgage lending guidelines are overly tight. so we're in an area right now that we know we need to get rid of the deduction but how do we do it? we have to do it structured. lori: let me come in here with this point. are you saying if we get rid of this deduction it could thwart, to your point a very vulnerable recovery? today we got the mortgage apps down 23 years from the prior weeks. new home sales were down when they were expected to rise? >> yeah, it could absolutely hurt the, short term it could hurt it. l
's not completely signed and stamped yet. the economy won't go into recession on january 2nd. >> really? j is that because so many people say that it will, jared. why do you think it won't? >> okay. because people conflate going over the cliff with going over and staying over the cliff and they're different. this is actually right out of the congressional budget office's document that many folks are quoting from including you guys just a second alg. the cbo prediction of a recession and unemployment going up to 9% is a scenario in which we go over the cliff and stay over the cliff for all of 2013. if we go over the cliff and we're able to essentially take away the kinds of very sharp tax increases and spending cuts that kick in right away, pretty quickly, say within a month or so, then it's not going to be great for the economy by any means but it won't be recessionary. >> jared, let's say that -- do you think the possibility of a stopgap, something that gets done to partially keep us from going over the cliff so we're just like hanging there at the beginning of the year and then we finish
and that's when the shooting incident happened. it is a critical geographical i economy here. people thought after the truce it would be safe enough to go to the fence. today proved otherwise. >> stay safe, buddy, appreciate that. next week lawmakers return home from the thanksgiving holidays to resume working on a deal to avoid the so-called fiscal cliff. despite optimism from both sides, they remain far apart on what to do about revenues with the white house saying the bush era tax rates should expire and republicans insisting any new revenues come from closing loopholes in the tax code. kristen welker joining us from the white house. he said the talks said to be stalled. what is the white house saying? >> reporter: they certainly know this is going to be a tough slog. certainly you had this sort of sense of bipartisanship after the leaders came to the white house. it seems as though that has gone awe with democrats digging in their heels on the issue of entit entitle. s and republicans on taxes. congress talking about some types of compromises, one that would include rolling back
think there's a very serious damage done to the economy and to the world economy and the approaches bush took running up to this and that obama is put on steroids. this is in the middle of many problems to continue to not be ended. and the was a very big problem. to be much more serious about spending and it was in that way before. >> how do you fix? >> the house republicans already passed the budget that would work and pass the extension of the tax cuts they would work and you go in and have these conversations in front of the american people without about how romney is mean to dogs and causes cancer and actually talking about issues. and i think that is a debate that we need to have. we haven't had it, certainly didn't have it in this last election and we can have it now. it's very helpful. i think at the end of the day we will make the right decision partially because the democrats are terrified of the damage that obama has to drive them over and they wouldn't actually do that as obama threatened to throw us off a cliff year ago in august and didn't. >> we weren't going to get the neg
line, if you're a retail giant and just trying to get the most you can in a tough economy, do you see why they want to get out there and just get a jump-start and open up tonight? >> i definitely do, especially in the economic times understand why they would open. however, they are claiming to have consulting every employee's work schedule and requests but i can guarantee that not every single employee was personally consulted as to whether they wanted to work thanksgiving or black friday. target also flat-out ignored availability. for example, my fellow coworker never works fridays due to previous childcare arrangements with her daughter and she is scheduled to work black friday anyway. >> clearly it is not making people happy, but i thank you for coming in to share your thoughts. happy thanksgiving. >>> coming up, if congress can't get a deal done, how will it impact your pocketbook in the new year? >>> plus, how victims of hurricane sandy won't be forgotten this holiday. i had enough of feeling embarrassed about my skin. [ designer ] enough of just covering up my moderate to severe
. >> grow this economy and engage in tax reform. >> simplify the code. >> ywhen you get divorced, thats what happens. ♪ >> welcome back after the thanksgiving holiday and all eyes are on the fast approaching fiscal cliff with republicans possibly maybe looking to make a deal. with the deadline now just 36 days away, some top republicans suggest they could, shock, horror, break with their sacred pledge to grover norquist. >> i'm not obligated on the pledge i made tennesseans aware is just elected that the only thing i'm honoring is the oath that i take when i serve when i'm sworn in this january. >> there's a lot that has been said about this pledge, and i will tell you when i go to the constituents that have elected -- re-elected me, it is not about that pledge. it really is about trying to solve problems. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> sounds great, doesn't it? only one problem, th
regardless of what it means for jobs, or the economy. >>> coming up here, the it's top economic adviser alan krueger. clashes in cairo today, more protests in tahrir square against egypt's president morsi. we'll have a live report. move over george clooney the on yan's kim junge un the sexiest man alive and beijing doesn't get the joke. good day, i'm andrea mitchell live in washington. no joke today on capitol hill. ambassador susan rice's attempt to clear the air with republicans over benghazi did not work as the white house had hoped. senators mccain, ayotte and graham say they have more questions than they had before rice's comments about benghazi. >> we are significantly troubled by many of the answers that we got and some that we didn't get it. >> if you don't know what happened just say you don't know what happened. people can push you to give explanations and you can say i don't want to give bad information. >> that's troubling to me as well, why she wouldn't have asked, i'm the person that doesn't know anything about this, i'm going on every single show. >> joining me now for our dai
to their constituencies that raising taxes on the 2% is not somehow indicting or challenging or messing with the economies of most of their base. i mean, we've got to disassociate the lobbyists and different wealthy interests that support and fund someone like grover norquist and which kind of the money and politics theme we always talk about here. we've got to -- the republicans have got to divorce that from their actual constituency. those folks in the red state who actually use a lot of federal support to exist and subsist. and the republicans have got to articulate that message to their constituents. otherwise, they're still going to have monied interests dominating the platform of their party. >> professor james peterson, david corn, thank you both. >>> next, john mccain continues his crusade for the truth about what happened on the sunday talk shows. stay with us on this snowy afternoon. >> so you were wrong about libya. >> i don't think i was wrong about libya at all. >> yes, i do. i know you were. >> no, i was not. >> i snknow you were. anncr: some politicians seem to think medicare and... social
the economy toppling back into recession. >> everyone i've had on this program, all the members of congress, have said to me, joanne, we have to get this done, of course it's going to get done. but we should remember it was a year ago today the grand bargain failed. so what's it going to take? >> you know, i think it might take the new congress being seated. i mean, if you think about it, you still have a lame duck congress so, while the election may have changed the atmosphere and sort of the story line for the members, the actual people themselves are still there. so they've not changed their ideologies at all. i think that the problem is that you have john boehner, president and mitch mcconnell negotiating with the exact same congress that they had when they couldn't make a deal the last time. so i think until the personnel change, i'm not sure you can get a deal. >> and juan kessler, the fact checker for "the washington post," has reported that, you know, you have to come from, like, some point point. you have to have a negotiating point to start with. he said democrats and republicans
and christmas, many shoppers report they'll be more cautious, concerned about the economy and the gridlock in congress over the fiscal cliff. >> they're going to be pulling back a little because they don't know what to expect for 2013, and they want to remain cautious as we move forward into the next year. >> that was kristen dahlgren reporting. speaking of, congress returns from the holiday this week, still facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more in taxes next year, coupled with $100 billion in cuts to domestic and defense spending. now, since the reagan era, most republicans have pledged not to raise taxes. as mike viqueira reports, there are signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed. to oppose tax increases of any kind. that once solid wall was showing crass. >> the pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed, and the economic situation is different. >> reporter: but republicans insist i
around. >> okay. >> what else do we have in news? >> we have the economy. we'll begin there now at 4 past the hour. >> we're going to keep reading the post. go ahead. >> the markets look to rebound after stocks finished relatively flat yesterday following a new warning from the central bank about the fiscal cliff. speaking to the economic club of new york, fed chair ben bernanke urged lawmakers to reach a deal to avoid the automatic spending cuts and tax increases. he said going over the fiscal cliff would pose a substantial risk to the economy. according to a new study the fiscal cliff could give 90% of americans new tax bills when the bush tax rates and some by president obama would both end. the working poor would be among the hardest hit. a tax policy center analysis showed a married couple making about $30,000 a year would on average go from receiving a $15 tax credit to owing $1400. >> wow. >> yeah. that's probably a reason to try and get something done? >> maybe we will. maybe we will. >> you would think. >> yeah. or maybe we can just talk about 2016. >> we could do that as well. h
deal will be a real boost to the economy for the next year. do you agree with that? >> yeah, i think he's right. we've seen already a real slowdown in capital spending because of this risk hanging over things. so if that risk goes away, suddenly businesses are going to feel a lot better. it's suddenly, okay, one of those big storm clouds has passed. consumers will feel better. that would be a benefit. we're already seeing some strength in other areas of the country. housing has been looking better. 2013 could be a pretty good year if we get through this without a confidence shattering incident. >> chris, the president spoke about how people agree with him. do you get a sense that the white house will take the fight over tax rates for the wealthy all the way down to the wire? >> reporter: i get the sense that they will in large part because democrats are saying that the president absolutely has to do this. this is a key part of his platform during this campaign. you tlaremember that he said bee they have to let it expire. he caved on that. they want to see him hold the line. as you point
for the fiscal future but also for the fact that our economy needs to get going. beginning to take steps to fixing the fiscal problems, the people we expect to reinvest in our economy are doing a great job. >> we had a president asking us for a blank check and he did not get this. and a big increase on job creators. we got the -- we got that. and we have been trying to get discretionary spending caps in loss since i have been here for 13 years. we have been introducing legislation for the last eight years to get caps on spending. we could not get this the last time the republicans were in the majority. we see this as a good step in the right direction. every cent down payment in the deficit and a huge change in the culture of spending. you are spending less money on this this year than last year. we have a long ways to go. we really do believe that the value of this republican majority will change this culture. we had the gephardt rule. no one would have to be seen voting for the budget resolution. we would do this in plain sight. >> the debate was long and it was not easy. and they have
back on when in other parts of their life they are holding back. we know the economy is still so somewhat sluggish. when we talked to shoppers here, they say it's christmas. what are you going to do? >> i tell you, that puts to rest all of us who thought, well, maybe people don't want to show up on thanksgiving. not if you're going to walmart. courtney, thank you so much, it there in dayton, ohio, appreciate it. >>> up next, our political power panel weighs in on the tough road ahead for fiscal cliff negotiations. and still ahead, the great holiday escape. tracking the best deals and discounts for your getaways. is it better to be the early bird...or the earliest bird? on black friday, it doesn't matter, as long as we end up here at 5 a.m., or at homedepot.com, starting thursday. where prices have been cut, chopped, and sanded... on the most powerful tools that cut. ...chop... ...and sand. so we, or somebody on our list, can do the same. more saving. more doing. that's the power of the home depot. the early bird gets a special buy on a ryobi two-piece lithium-ion kit, just $99. w
to wreck the economy. and i think there are a lot of republicans that are saying what a few of us were saying after the election. bill kristol said it. so tell me again, why are we fighting and risking our majorities, protecting billionaires that are hedge fund guys who are paying 14% tax rates? >> walk two blocks from this street, fifth avenue between this building and 57th street, and the storefronts on fifth avenue. anybody who can go into those storefronts and purchase things in those storefronts are not going to be damaged by these tax reforms that we've been talking about. they're not going to be damaged. >> by the way, the storefronts aren't going to be damaged by raising capital gains rates from 15% to 20%. i want everybody to be rich. i'm a capitalist. i want everybody to make $250,000. barack obama says that's rich. whatever. i want everybody -- i love people being successful in this country, but again, if you're making billions of dollars, again, there's something immoral, mika, about these people paying 14%, 15%, 16% on their taxes because the tax rates are the way they are
to really put this economy on a stage that can really create some jobs and move it forward, the package has to be big and it has to be bipartisan. and if we do that, i think that the minute points of it, we can work around and we can negotiate. it's not going to be perfect by any stretch of the imagination, but we can work around and make it a package that will work for america. the bottom line, it's never going to happen as long as we're very, very partisan in this. now, the good news is, i think there's folks on both sides of the aisle that want to see a big package through and i think that that's going to happen because there's a new cue lus of people in the middle that want to see this happen and i think it will happen and be good for the country and future generations. >> you're speaking, of course, as a senator and there's been a lot of bipartisanship since the election from senators on both sides. >> oh, no. >> more than there had been. when you look at the house democrats and the house republicans, they seem as far apart as ever. does it concern you as a senator that this all may re
after manufacturing surveys from the world's biggest economies raised hopes for improving global growth. >>> facebook wants to stop letting users vote on changes to its private policies. the social network is concerned about the quantity versus quality of feedback generated by the current setup. the company says users will still be able to weigh in during a seven-day comment period. >>> the u.s. post office is hoping to cash in on the season's bounty of online shopping with same-day package delivery. same-day. the expedited service will be tested in san francisco next month and then if it's successful, the program will expand to other big cities like boston, new york and chicago. >>> most americans celebrated the thanksgiving holiday with family, friends and some football. about 68,000 of them are far from home. and even though new york jets played like turkeys, the team did a very nice thing for some of our soldiers in afghanistan. >> reporter: it's thanksgiving in afghanistan and these u.s. service members are celebrate with some football and the new york jets who have donated jerseys
are revitalizing the economy, and american express open is here to help. that's why we are pro
a month if they can't face an agreement. the health of the american economy and maybe if it goes down to the wire the fiscal cliff story will receive 1/10 theed my ya attention as the scandalous saga of dave and paula and john and jill. joining us now here the washington is jane hall. bob cusack, managing editor of the capital nooup the hill. and amy argetsinger. why has it become synonymous with bore dom? >> well, there's no sex with it. that's the bottom line. this story is wild. the petraeus story has gone in a lot of different directions. first he resigns. then we find out why. then we find out about the other woman. the inappropriate e-mails. >> you're saying that barack obama meeting with john boehner and mitch mcconnell doesn't quite get readers as excited? >> not as titillating. >> this is what the election was fought over and yet i have the impression that a lot of the country is yawning but really many of the journalists covering the story are oning. >> there's a story about low how the mighty are falling. privacy, security, while covering the sex. >> are you suggesting that
that his number one focus was jobs and the economy and also having a long-term plan to reduce the deficit in a balanced way and that means in addition to cuts you would also have revenue, revenue that you get by asking higher income earners to pay a little bit more to reduce the deficit and so the president was really clear in the campaign and i think it is really important that he take that discussion to the country now because he has said to the congress, the president said to the congress, just extend immediately all the middle class tax cuts and then we can decide what to do with folks at the higher end. again, it is important to understand the president has proposed that everybody get continued tax relief, existing tax rates, on the first $250,000 of family income, so he says let's extend that for everybody right now, but he believes we should ask higher income individuals to pay a little bit more. >> house majority leader eric cantor was on morning joe talking about the grover norquist tax pledge and whether he like other republicans would be willing to jump ship. here is his answer
is the economic part of this? give me how the economy is impacted by the rates as opposed to what they are saying. >> well, it's a very important question because the argument underlying the republican position is that if you increase the tax rate on the top 2% of households, you'll somehow bring the economic recovery to its knees. well, in fact, that's basically supply side trickle down economics which we've seen time and again is a complete hoax and most recently we have the congressional budget office, the nonpartisan score keeper, telling us that -- allowing those tax rates to expire just at the tippy top there would have no impact on growth next year. so they don't have that. you don't even hear them talking about that anymore. so now they have this vague notion that, yeah, we want to put revenues on the table but not through rates. it has to be through broadening the base. now, if you press them, exactly where are we going to broaden the base, guys and gals in they tell you what they are going to take off the table, not what they are going to put on. >> so they are not serious as far -- if
decade. it's not only going to change the face of american demographics and the u.s. economy, it's going to change our economic standing across the globe. it resets everything. resets everything. >> and all starts tremendous consequences, u.s. reliance and dependence on the middle east obviously changes when we become a larger oil producer than saudi arabia. >> and maybe we can stop fighting wars in the middle east. >> maybe. >> we can go to north dakota instead. i'm telling you, those canadians, i don't trust they will. i do not trust them! >> hey, we need to figure out, what's the line that separates, you know -- >> we need a parallel. >> we need a parallel. a canadian parallel. the canadians and i've been talking about this for years -- >> i'm going to take a poll. may i take the cane and beat joe on the head with it? >> seriously, how many divisions -- >> all those who agree, raise their hands. >> a lot of canadians watch "morning joe." we don't want to hurt you, we want your oil. it would be good, right? is this what the dream of nafta was all those years ago? >> nafta is one of the
and independents and democrats to work together to move our country forward, to grow our economy, to protect medicare and social security. as well as to balance the budget in a way that protects the middle class and the working poor and that's what i'm looking forward to do with my colleagues. >> of course, there's -- there are a lot of trade-offs to be made and compromises to be made. i may be among the first to congratulate you. >> thank you. >> congratulations to both of you. what are you willing to commit to if you get the tax cuts the president and party is demanding? >> sure. well, we have got to reach across the aisle and with the fiscal cliff, both sides have to put everything on the table and do what's best for all mitt romneys and that's not just me talking about it. that's what i heard continually from the people in my district and that's a big reason of why we won the race. my way or the highway doesn't work in politics. we have to be serious about getting our country back on the right track. >> congressman, you're part of a changing demographic. the house democratic caucus is no
hanging over the entire economy because we're not confident that our guys can govern anymore. there's a lot of money on the sidelines that people are willing to invest. people like me just aren't hiring now because we're not confident they can do it. >> so i mean you've heard that. i'm sure you've heard that from business and this is one of the business leaders that's been talking to the white house and trying to get them to be more flexib flexible. what taxes do you think we're going to end up with? you've been through it round and round as you said. are we going to end up with a different capital gains tax rate? >> first of all, dave, i've had dinner with dave and multiple meetings with him. i couldn't agree more with him. and that's why, andrea, we have plenty of time to make these decisions. it's just a matter of doing it. we can do it in two or three weeks. candidly they can be made in two or three days. it's easy to put this policy into writing. i've demonstrated that with a bill. but what dave is saying is if we would just do this, put this in the rear-view mirror, that money
a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu
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